Tom Albanese of Rio Tinto becomes the latest mining industry chief executive to step down. The WSJ's Andrew Critchlow explains why Mr. Albanese left and what that means for the Australian company.

This transcript has been automatically generated and may not be 100% accurate.

I ... the ... eyes nose ... Intel today announced a fourteen billion dollar ... write down of some of its assets ... and its CEO Tom Albert's a twenty year veteran of the company ... announced his resignation joining me now on this unfolding story is Andy Critchlow ... from Sydney and even beer chief of the Wall Street Journal A new fliers here there ... and eat us what we know so far and wide Albert's has resigned today ... bucking the city to ensure that ... their duty to fourteen billion dollar white diamonds are in anyone's money to these huge chunk of change ... and you know it's the ... the the the west of Banca Monte of the inanity of the ... plan is to be able to so I and and and saying that position ... I knew that shareholders to the fullest ... at ALPA knees ... got a seat in a strategy that we have to diversify to compete with whom he bolted ... in and out even in ... at one of its time to pay to know all the money for the Canadian and a Canadian living in the media I'll have ... at and said you guys in that the major source of light than a year a half to about eight billion dollars that ... Apple did not see that ... as scrap the net balance sheets at also ... be taking the company has taken some pretty big bets in India in the coal sector that Simon thermal coal prices in Australia Bowman says ... Adelson to miss the place ... a in Africa that we have The will fly to parts of the ... paper assets of ... guarantees a deal to buy the set ... in old CEO Dan Loeb Ettinger space innovate got to deliver results ... at the time for seeing that at some of these big write downs and to make risky bets ... and now this excess Sarah Sam Wallace has been at the company even longer than Albert's was ... he seems like a safe more conservative pair of pants ... that are so Leno about Sam Wallace ... Asian Lionel money to its east of us who live close ... and Dana pretty nice based in Perth Western Australia is the final half so ... that illustrated both the state is gonna go out to local ... in T T today than ... at me I was pushed into idling and yet this is seen to be profitable in the end of the organizing be a logistical chains that beat around networks ports ... to be able to deliver the products they can in this case China ... I'm so you know he's betting that it that he will be the mother skills in the auto industry ... the city years ago but ... but that a new easy to be able to ... deal with what looks very complex accounting of the matter immediately it seems that the study ... new digital investments that I'm that will wipe out ... its lines in Mozambique ... absolutely let's talk about all ten ending of this type of investment they made in two thousand and seven ... and it is still not paying dividends when LaSalle tend to turn around for them ... you gotta just look at it ... you Google the month at that and that and that she you know he's allowed greater than mine did he leaned into the Google will ... you know what to do with it twice the price is at ... animals that you know the cost of PCE Ltd ... has gone opens in an age eighteen of the major nations on the well the same time you have ... a lot Minis than she's means the market ... will ship ... loading them up with that with Indianapolis ... in ... the Middle East and wishing a bit of a button that sources of cheap gas ... I'm in and day he he he he said ... no I remember that in four years ago so he's one of the biggest step back and that ... I mean in this the scene in the Middle East into an environment that an incumbent has been to visit me by the government can be sold to a slight ... miss running and dollar bills on your shoulders or maybe just its enabling people ... because the actual cost of the responses are expensive ... and I think the question and at the top of everyone's mind this has been adding that the main enough people up and talk about Kloppers's BHP Billiton for ages ... what's your table meets the percent of the media as saying ... in a minute that he ... he he he ... stated that the the did it tried to diversify ... their specific the idea pressure for the year ... show that's the way that they invested in U N America led ... to massive write downs of my company ... they wanted to be no technology no they don't invoke with that ... in on gas impasse BHP is the most diversified energy something that they would still say that its strategy to defeat it to proceed ... I'm in it they would argue that ... the drop off in Idol was the sole say six moons ago ... and at a news trades that I ... have ... an interim order based business that rely on on one asset but ... it is a good idea nor that they get folks to make the long changes in one of these is that ... they come to a low base he can focus on just in setting him up Sinovel bother to meet ... some of them tasted stale ... I'm and that and I guess ... that even in a very bullet aisle will be given to them and instead I'm reading in six months of very high ... and ... I know what's the use of the disease said about enough of these ... and you know that the British average ... great thanks so much for joining us and the announcement this ... year and ... for more on this story please go the WS J dot com or we will be updating it throughout the evening thank so much watching Asia Today Ahmadi the Sanchanta ...